๐
$MINA is showing a potential technical setup!
The 1M chart on Binance displays MINA forming a potential macro reversal after breaking above a long-term descending resistance line near current levels.
๐ The Technical Setup:
โข The Pattern: Descending trendline breakout with Fibonacci retracement levels
โข Short-term Target: $0.20978
โข Macro Objective: $0.31360
โข Market Structure: Potential reversal and accumulation breakout
๐ฏ Key Levels to Watch:
โข Support / Accumulation Zone: $0.04178 - $0.10000
โข Resistance: $0.20978 - $0.24942
โข Breakout Level: $0.15047
โข Stop Loss / Invalidation: $0.10000
๐ Confirmation:
โข Volume: Neutral/standard volume
โข Momentum: Bullish recovery candle crossing above long-term resistance
โข Trend: Transitioning from macro downtrend to potential reversal structure
โ ๏ธ Invalidation:
A decisive monthly close below the $0.10000 support level would invalidate the setup.
MINA is testing key diagonal resistance on the 1M timeframe, offering an interesting risk-to-reward setup if support holds.
๐ Creator: NOUMAN_DON (@NOUMAN_DON)
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